2010 Anti-Money Laundering & Bank Secrecy Act Compliance Seminar

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This seminar highlights the increased federal expectations for BSA. The impacts to financial institutions from the annual expansions to the revised examination procedures are identified. Institutional risk assessment is reviewed, and the procedures on Currency Transaction Reporting (CTR) Exemptions are covered. Suspicious activity reporting and the most recent guidance from Treasury on proper SAR completion are discussed. The increasing importance of Customer/ Member Due Diligence standards and “High‐ Risk” client monitoring are reviewed. The (expected‐to‐be‐updated) guidelines on account management and due diligence expectations for Money Services Businesses (MSB) are highlighted. The regulations affecting financial institutions from the Office of Foreign Asset Control (OFAC) are discussed. Suspicious transactions, terrorist financing, and other money laundering techniquesare also reviewed.

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